Integrity Gaming Corp. V.IGAM

Q1 Net income $341,262 US

[Riverfolk]

— Continued Strong Q-o-Q and Y-o-Y Growth in Revenue and Adjusted EBITDA—
— Company on Track to Meet or Exceed 2016 Adjusted EBITDA Target of US$10.0 Million —
— Installed Base of ~2,500 Machines and Poised for Growth Post Successful Integration of Integrity —
VANCOUVER, May 30, 2016 /CNW/ - POYDRAS GAMING FINANCE CORP. (TSXV: PYD) ("Poydras," "PGFC," or the "Company") today announces financial results for the first quarter ended March 31, 2016 (all amounts stated in U.S. dollars unless otherwise indicated). 
First Quarter 2016 Highlights 

• Revenue grew to $3,690,423, representing an increase of 5% from $3,525,411 in Q4 2015 and an increase of 462% compared to $656,088 in Q1 2015.
• Adjusted EBITDA of $2,575,873, a 24% increase from $2,080,520 in Q4 2015 and a 46 times increase from $54,421 in Q1 2015.
• Net income of $341,262 compared with a net loss of $981,101 in Q4 2015 and a net loss of $1,504,323 in Q1 2015.
• Revenue generating machines in operation at quarter end were approximately 2,491, compared to 2,428 at the end of Q4 2015.

Highlights Subsequent to Quarter End

• On May 2, 2016, the Company completed a 10 for 1 share capital consolidation with the intent of attracting a broader range of investors and increasing liquidity.
• On May 24, 2016, the Company announced that it has entered into a long-term contract for the placement of approximately 230 gaming machines in a new Native American-owned casino in Oklahoma. All machines are expected to be deployed and revenue generating by the end of Q3 2016, and the revenue sharing agreement is expected to add at least $2.0 million dollars in annual run-rate revenue.

"We are off to a strong start in 2016, on track to meet or exceed our FY 2016 goal of $10.0 million in Adjusted EBITDA," said Peter Macy, CEO of Poydras Gaming. "Organic growth during the quarter over Q4 2015 was driven by a full quarter of deployments for an additional 150 machines with our long-standing customer the Cheyenne & Arapaho Tribes of Oklahoma. As we look towards the rest of 2016, we will continue to expand our machine base with new and existing customers in our core market of Oklahoma and Texas, as well as exploring opportunities in new markets." 
First Quarter 2016 Financial Results  
For the three months ended March 31, 2016, the Company's revenue increased to $3,690,423, representing growth of 5% compared to Q4 2015 and 462% compared to Q1 2015. The Company's leasing revenue grew to $3,020,919 in Q1 2016, a 10% increase over the prior quarter and a 360% increase over the same period of 2015.  The increase in revenue was mainly due to generating leasing revenue from an average of 2,471 gaming machines in Q1 2016 as compared to an average of 2,388 gaming machines in Q4 2015 and 341 gaming machines in Q1 2015.  
The Company's Adjusted EBITDA increased 24% to $2,575,873 in Q1 2016 from $2,080,520 in Q4 2015. The increase in Adjusted EBITDA was driven by higher lease revenue in Q1 2016 as a result of the deployment of additional revenue generating machines during the quarter.

[RegularJoe]

That's an annualized EPS of .04! Not including the newly announced or additional machines. That currently has PYD trading at 12x EPS when industry average is 36x Industry average would move out share price to $1.44 Congrats to all longs! Go PYD

[Riverfolk]

Cash As of March 31, 2016, Poydras had cash of $2,450,463, compared with $2,275,174 of cash on December 31, 2015. The increase in cash is mainly due to collecting more cash from the customers 

[SilverSaver333]

Well Macy proved me wrong. Congrats longs I didn't think he could pull out a profit yet. Should be a good day in price movement. Even Wango might be happy lol.

[Teflon2Hype]

Careful SS. That report was good for traders but not so for investors. The comprehensive loss was $95,574 of which there was a favourable foreign exchange and a one time earn out. Foreign exchange can kiss you on the cheek in one quarter and kick you in the butt the next (and it has and will), and the one time earn-out will not be there next quarter. So if one was to take that into account to see

[SilverSaver333]

Thanks Teflon. I am unfortunately one of those traders who usually skims the surface of articles. I appreciate you taking the time again to enlighten me. Hopefully others will heed your warnings.

[bringon10bagger]

Good progression YOY, outlook developing positively and promising, and only to expand further with addition of more machines......moving forward!

[bringon10bagger]

Good progression YOY, outlook developing positively and promising, and only to expand further with addition of more machines......moving forward!

[RegularJoe]

Enlighten you? He says foriegn exchange is good when it's bad for Pyd and now it's good so he says it's bad. Read his posts, can see right through his game

[bonsai43]

He's trying to get some cheap shares before the big jump!!

[lscfa]

The earnings include a one time reduction in earn-outs of $599,000....better to look at cash flows.... Poydras cash flow from ops   Q1 2016 $930,576 Q4 2015 $767,376 Q3 2015 $454,669 Q2 2015 ($639,419) Q1 2015 ($251,130)   Poydras Adjusted ebitda   Q1 2016 $2,575,873 Q4 2015 $2,080,520 Q3 2015 $1,666,625 Q2 2015 ($112,830) Q1 2015 $215,421